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. tom's off tonight. americans are waiting to hear from president obama as he gives his state of the union speech. we look at his jobs plan and what wall street wants to hear from the president. and currency wars: g-7 countries say they're looking to boost their local economies, but critics say they're aiming to get ahead by weakening their currencies. that and more tonight on "n.b.r." we're hours away from president obama's state of the union address. americans aren't just listening for what he says but how he says it. will he strike a hopeful or optimistic tone, and will he offer a concrete plan to create jobs and grow the economy? washington bureau chief darren gersh reports. >> reporter: with more than half of americans thinking the economy is still in recession, it makes sense that the president is focused on a jobs agenda in his speech tonight. but while his plan may be new, the challenge is not. >> the economy is not growing fast because the demand for the goods and services that we can produce in this country has not increased very much. and unfortunately, the public s
. waiting for president obama's speech. now despite a cautious day of trading, the dow closed at its highest level in more than five years, and returned to the psychological important 14,000 level. the dow gained 47 points, and the nasdaq lost five, and the s&p 500 up two points. even though the stock market has made dramatic moves, and trading volume today and throughout february has been light. market pros say that's because investors are searching for new reasons to buy equities. there's a chance president obama might give them some tonight in his state of the union address. suzanne pratt has the story. >> reporter: with earnings season winding down, wall street could use some new headlines to chew on. good economic data would be nice. friendly washington politics would also be helpful. tonight's state of the union speech might give investors a clue as to whether that's likely to happen. veteran trader teddy weissberg is hoping president obama will stress the need for bipartisanship but isn't sure that's what he'll hear. >> in terms of tonight, i don't think anybody that i talk to in the
stole the show from president obama last night. it is this lady who is 102 years old, she was the guest of michele obama. as a haitian immigrant, she has become an icon in society. she waited in the early voting line for three hours. only to get told that you come back. she made a fuss, came back to castroville, and her inspiring story went viral. there she is, all dressed up. they are saluting her, i don't know what this was, but there you go. >> i waited in line for two hours or more with my baby strapped to my chest. >> you did? >> i did. melissa: that is all the money that we have for you today. here comes gerri willis. gerri: hello, everybody, i am gerri willis. tonight on "the willis report", president obama hitting the road to promote his federal spending programs with this crazy idea. >> nothing i am proposing tonight should increase our deficit by a single dime. also, the plan to hike the minimum wage to $9 per hour. a boot to the economy or a jobs killer? i will break it down. and, we'll president obama's latest plan keep your money safe? "the willis report" is on the case. ge
conference today, president obama sounds a dire economic warning over the sequester he calls for yet another delay in those spending cuts. and he calls for another tax increase. now it's up to republicans to respond. remember, spending cut sequester goes into effect in 24 days on march 1st. the sequester by the way was originally the president's idea. let's get right to what the president said. john harwood joins us thousanow all the details. >> as you know, there are two ways to go about deficit reduction under the sequester law passed in 2011. one is the full ten year sequester. that's $1.2 trillion in budget cuts over ten years. the other is to do it piece meal. if do you it just for the rest of of the year, it would just be $85 billion. president obama said if congress can't agree with the full pack annual by march 1st, we need to do something smaller in the name of staving off damage to the economy, to consumer, and to federal workers. here's the president. >> if congress can't act immediately on a bigger package, about they can't get a bigger package done by the time the sequester is s
." >>> congress did it, congress can undo it. president obama is warning of dire consequences for all of us in lawmakers don't act quickly. we're talking about those forced budget cuts that take effect march 1st, slashing $85 billion from spending across the board this year. but with just ten days left, the consequences are backing more alarming. president obama outlined some of them today, told congress, let's make a deal while there is still some time. >> my door is open. i've put tough cuts and reforms on the table. i am willing to work with anybody to get this job done. none of us will get 100% of what we want. but nobody should want these cuts to go through because the last thing our families can afford right now is pain imposed unnecessarily by partisan recklessness and ideological rigid tea here in washington. visually, the president tried to make that point by having law enforcement officers standing behind him. many of them could lose their jobs. our joe johns is covering that with the different ways that the budget cuts could directly affect you. we also have renee marsh covering
the same size as it was when president obama took office, the unemployment rate today would be over 10%. this is a number nobody talks about anymore. it's a stunning number. there's simply not enough people in the workforce. and that's what makes me worry about the long-term viability of the recovery. >> and people are still withdrawn. 169,000 left the labor force in the month of january. that cannot be good. 8.5 million people are not even over the labor force in the past four years. 8.5 million people have withdrawn from the labor force. i mean, that's a terrible number. i'm not making a case, by the way. i'm not a bull on the economy because i think there are too many problems on policies and whatnot. but these jobs numbers generally, they keep looking very, very, very mediocre. >> i tell my folks back home, we can ignore the rates, ignore the revisions. the one question, the one question only is how many jobs did we create last quarter? until that number is 200,000 or 250,000 i think there's a lot to be concerned with. >> the one thing i'll ask, though, i know you're not here for y
. anyway it came to the attention of the whitehouse, it was discussed president obama decided against it at the time and others who counseled against the proposal including vice president biden, tom dawn lynn who was recently a your show the national security advisor and susan rice. those are kind of the two camps, the whitehouse against the rest of the government as it existed at that time. but now we have a new national security team. >> rose: where was dennis mcdough know. >> i don't know where he was for a fact but i know dennis was very close to president obama. and i would probably put him in the camp of those being cautious about getting more deeply involved in the crises. and i think the argument would have lined up this way. on the side of caution, you know, you would be getting more deeply involved. and i think the concern president obama had was by supplying weapons would be in effect involved in a approximately war against a regime supported by iran and russia. on the other side of the debate the argument was well nothing else is working and we need to increase the press
that with obama four years ago. stuart: someone who is a doctor who seeks to heal versus lawyers who want to win by fighting. that is what got a lot of people upset. stuart: the man comes from completely outside the political realm, makes one speech in the presence of the president at national prayer breakfast and suddenly america at -- we are talking about him and -- [talking over each other] charles: we are desperate because we saw a bunch of people run for political office the highest land and for over each other. liz: no one has a monopoly on debate. he is allowed to speak his mind which he did. stuart: for 25 minutes he had the president's attention. charles: my prediction tonight, the speech tonight will be a reenactment, modern update of the four freedom speech from fdr is what i am predicting. stuart: are you on the show tomorrow? charles: i don't know yet. in the one that is it. dagen mcdowell and connell mcshane. dagen: you heard that live. [talking over each other] dagen: charles -- stuart: that was good. we call you 6, this prediction. connell: i am connell mcshane. dagen: i am dagen
hedge fund. >> hello, everybody. tonight on "the willis report."y >> president obama hits the road tonight to ponromote all of his federal spending programs.night shou i >> nothing should increase the deficit by a single time.me. also, the plan to hike the minimum wage to $9 per hour. ho. a boost to the economy, or a eco jobs killer. i will break it down.l presidens latest plan keep your money safe? "the willis report" is on the case. gerri: all of that and more coming up. but first, call him the magician in chief. president obama is proposing tens of billions of dollars in new spending. he says that won't cost us a dime. now, that really is magic. fresh off the state of the union speech, the president hit the road today to push his new economic agea that looks exactly like his old economic agenda. dozens of new federal spending programs. from the federal education program, building homes in rundown neighborhoods all over the country. the estimates of this the cost her at least $130 billion. on top of what we already owe. who really knows? not even theresident. he has encountered i
're in "the situation room." >>> we begin this hour with president obama's very public attempt to pressure congress into putting off billions of dollars in automatic spending cuts, cuts he fears will wreck the u.s. economic recovery. basically he wants lawmakers to kick the can down the road one more time. let's go to our white house correspondent dan lothian. dan is joining us. dan, the president made a little bit of a surprise appearance over in the white house briefing room. >> reporter: that's right. very surprising because the president in the past has criticized these short-term deals saying that this is not what the american people sent their elected officials to washington to do. you have this march 1st deadline quickly approaching. while congress is trying to work on a bigger budget, 1 pine point $2 trillion package, the president says they need more time in order to continue tipping away at the problem. the big concern is that everyone believes that the economy is moving in the right direction. the president is pointing to auto sales, the housing, to manufacturing. and so there's
bank. >> and we're just hours away from president obama's state of the union address. he's expected to call on more tax hikes and fewer spending cuts. >> announcer: you're watching "worldwide exchange," bringing you bes news from around the world. >>> welcome to today's program. it is tuesday. >> yeah. >> and loreal is talking about the strong euro in france. >> right into trading down double digits this morning. another story in italy, it seems like the entire world press core at this point will be desending on trade. >> yes, they will, with the pope and the italian elections. >> i think it was something like 10,000 journalists for the pope the last time. it's a huge event. it will be four days after the italian election. >> i don't know how the bars cope, frankly, right when that's going on. >> we're going to head to the stages of hollywood, florida. the etf shows in signs of chilling down. >> and we'll get a view from the french finance minister on the strength of the euro. plus we'll get a view from seoul as firms have conducted a third nuclear test. >> and we'll be looking at l
&p that cut the u.s. aaa credit rating back in august august 2011. unbelievable. meanwhile, the obama administration has been getting called out for picking winners and losers in the energy sector, mostly losers. a new bill would eliminate all of the energy, all of the energy tax credits. would that make it even playing field for people in that this is? running me now, republican congressman of kansas superposed the bill. congressman, welcome to the show. are you trying to accomplish with this? >> several things, first of all. thank you for having me on the show and talk about this. this is about affordable energy for the folks in kansas and california. affordable energy that they can depend on and rely on. our tax cut has become one that favors folks with a political ties and not those customers. in so many energy companies to get back to doing what they're supposed to do, creating value through finding customers, not political patrons. my legislation does just that, getting rid of every single energy tax credit in the entire code. i am all for it. we should close these loopholes for
the deficit through immigration reform. how did it work? president obama held meetings today with top ceos and labor leaders. we have all the latest details. >>> plus the justice department body slammed standard & poor's alleging it defrauded investors over mortgage securities rating. is s&p cooked? john eagan, ceo of eagan jones rating company joins us exclusively to react. >>> the entire electronic industry could be turned upside down. foxconn workers in china will get the first free union vote. these guys produced 40% of the world's electronics. will this push up the price of your smartphone? you might want to embrace for impact. even when they say it's not it is always about money melissa: first let's take a look at today's market moments. stocks recovered after the worst day of the year. solid u.s. and european economic data helped put the bulls back on the track. the dow briefly climbed back above the 14,000 mark and pared session highs closing up 99 points. nasdaq and s&p 500 each gained more than 1%. >>> starting off tonight with president obama's big plan. using immigration reform
stuart: we just had time to squeeze in the "highlight reel." >> president obama and harry reid wants more "revenue." >> and looking to expand it. >> republicans would have been blamed for any tax increase on the middle class. >> the end result being he takes more money off of wealthy people. >> it slows us down gradually. >> many can say texas don't matter. of course they will in the long run. stuart: here we come. what a perfect moment to throw it to dagen and connell. connell: good morning, everyone. dagen: america is a good bet. here to tell you why. connell: one of our guests in this hour could be the next energy secretary. dagen: more on the power outage and the record-breaking at cbs sports for that incredible game. connell: and cyber attacks, the white house considering action against china. dagen: i had the ravens, did you? by a field goal, 27-24. connell: nobody knows football like dagen mcdowell. clearly. dagen: stocks now has to do every 15 minutes, nicole petallides at the new york stock exchange. nicole: a good bet going. if yo you're betting on the mar, 14,000 mar
about immigration to president obama. the president welcomed the business leaders to the white house tuesday. he is pushing his "pathway to citizenship" plan for illegal immigrants already living in america. many republicans oppose the idea. the president believes a new immigration system benefits the broader economy. meanwhile on capitol hill, the mayor of san antonio, texes, julian castro, told a house committee yesterday he supports the pathway to citizenship. he also addressed the guest worker program some lawmakers want. "that may be one way to do it. however, in terms of the 11 million folks who are here, certainly putting them on a path to citizenship, ensuring that after they pay taxes, they pay a fine, they learn english, they get to the back of the line, that's the best option." castro calls the country's immigration system "broken," but adds that congress is on the cusp of making progress. president obama is seeking short-term solutions to fix the country's debt problems. the president has asked congress to decide on short-term spending cuts in lieu of a bigger package of
in this as well. some people do not even know how to find it. ashley: president obama pointed the finger at congress again today. urging lawmakers to act. >> congress allows this meet cleaver approach to take twice. it will jeopardize our military readiness, it will eviscerate job readiness and education and medical research. ashley: while the president surrounded by first responders asked congress for a short-term fix. if the sequester were to take waste, hundreds of thousands of emergency personnel would have their jobs in jeopardy. if congress were to take action, it looks like it would be down to the wire. just eight days to go until the cuts hit. the president prodding coming just after deficit talks. lou dobbs coming up in just a few minutes to wait in on that. tracy: i guess this is their fourth in three years. office depot and officemax in talks to merge. could staples be the big winner here? ashley: new details in the multibillion-dollar diamond heist in belgium. this story straight out of the movies. cheryl: it is like oceans 11. let take a look at metals. gold, silver, copper
that the strategic, one of the strategic principleses that the president and the obama administration brought at the outset of our first term is that with constructive and productive great power relationships you can get a lot done in the world. and if they go off the track it is much more difficult and frankly we've seen it, that proposition that you just laid out has been proven i think in the context where. there has been cooperation, we have gotten a lot done with great power of corporate raise and we can talk about that in terms of iran and other places in afghanistan. on the reset. you asked a question directly. he did the reset work. in the first term if you look at the list of things you are able to accomplish. we have had a change of leadership in russia. we will get that in a secretary. we have been able to accomplish, really, through great power negotiation, and great power, productive and constructive relationship, we have a new start treaty in the arms control area which will -- >> what's the status of that. >> the status this. the status it has gone into effect and is being impl
to have you on the show. we will see you in a bit. > > thanks for having me. president obama turns up the heat on members of congress to avoid automatic cuts to federal funding that could start by the end of next week. the deadline was created to help settle the debt ceiling crisis in 2011. but as our cover story explains, so far, sequestration has become another term for a stalemate. standing among first-responders who'd face cutbacks statrting march first, president obama called sequestration "a meat cleaver approach." "these cuts are not smart, they are not fair, they will hurt our economy, they will add hundreds of thousand of americans to the unemployment rolls. this is not an abstraction; people will lose their jobs." automatic cuts in federal funding were meant to scare congress into compromise. at risk, fema grants to pay firefighters during disasters, loan guarantees to small businesses, fewer food inspectors, border patrols, and air traffic controllers, to name a few. "i've never taken the sequester seriously. it's a gimmick to reach agreement." economics professor lawrence
and then cutting back on overtime." in washington, president obama has called a meeting with top congressional leaders for friday, the same day automatic spending cuts begin. "he hopes to have a constructive discussion to prevent sequestration." the cuts would be widespread. according to the white house, the sequester would mean 2100 fewer food inspectors, 2700 schools losing federal funding, 30,000 teacher layoffs, and more. some think it could even affect the fragile housing recovery. however, some argue that the effects of sequestration may not be as dire as the white house and others predict. air traffic controller furloughs need 30 days notice before going into effect, and the conservative nonprofit heritage foundation says educational reforms would empower states and parents. federal reserve chairman ben bernanke continues to lift the mood on wall street. in day two of his testimony, he told a congressional committee the fed intends to maintain its policy of buying bonds to keep interst rates low, similar to what he told senators tuesday. while on the hill, he also noted the uptick in th
, let me ask you about that, because at 10:45 this morning, president obama goes before the cameras and i think he's going to give us his ideas how to avoid sequester, how to avoid the big spending cuts. let's suppose that he's not successful, that we cut spending, 85 billion dollars between march 1st and the end of this year. if you take 85 billion dollars worth of government spending out of the economy, does that push us into recession? >> i don't believe 85 is enough to push us into recession, it's slightly weakening, in the scheme of the size of the federal budget. 85 is not very large. the payroll tax is double that amount when you add the gas tax, so it's much more severe and it hits right into the consumption, personal consumption expenditure of 130 million working americans, i don't think that the 85 is the issue, it's an extended period that becomes the issue if they don't resolve things. stuart: david, thanks for joining us, sir, come back again soon, thank you. >> thank you, stuart. stuart: all right, everybody, you saw the headlines, nightmare at sea and the video, peopl
their money on president obama when it comes to the cyber security war. dagen: another cold glass to our nation's heartland. connell: the tough decisions that need to be made when a company's brand is engulfed in scandal. dagen: it is the top of the hour. nicole: i am watching a market that really continues to sell off. there are concerns about whether or not the fed will hold the stimulus at any point. today you have accelerated selling. we are down about 57 points. the dollar remained to the upside. i am seeing most sectors lower. a lot of groups under. back to you. connell: the secretary of defense leon panetta is now warning that the pentagon is planning a partial virgo. dagen: to wait in "wall street journal" board member, jason riley. if you look at, it will only be about 45 billion discretionary mandatory cuts. >> we are talking about 7% in defense, 5% and domestic spending. the sequestration goes through, you know, the first responders will go away. cities will burn. border control, at this rate, illegal immigrants will raid this country. connell: you think it is basically no big
immigration bill. a copy of president obama's plan has been leaked. illegal immigrants would be allowed to become permanent residents of this country in eight years. marco rubio had this to say. the president bill would be dead on arrival in congress leaving us with unsecured borders and a broken legal immigration system for years to come. stephen moore joins us now from washington, d.c. do you think that the white house plan really does throw a wrench into reaching any kind of bipartisan agreement? >> i think this was a real setback. this is very delicate negotiations. you need to find a way to let more immigrants into this country. you need to have a way where people who have been here to have a path to legalization. it has to be coupled with tougher border security. everyone knows that. for some reason, the president is basically saying, we will not move forward with the border security, but we will with these other elements. i think that is a killer. i think marco rubio is right. dagen: why leak it in the first place? in washington, there is always a reason that things come out. >>
. president obama will miss his budget deadline. it is the third year and a row in the fourth time they have done that. you know, after all of that, i need a change of subject. i give you budweiser's clydesdale commercial. ♪ ♪ i took my love and i took it down mobile i climbed a mountain and i turned around ♪ ♪ stuart: that really was heartwarming. it was the number one super bowl ad. at 10:45 a.m., we have a very force on the road and the man who created that ad. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. all on thinkorswim. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it.
employs. >> this is the worst defense i have heard. this is an obama-type defense on spending cuts. next thing you want is revenues to help the post office go through. what's go pac? i'm sorry. >> it's a teachable moment as guy talked about. this is what happens when you allow the government to come in and run an industry that in treery is private. it is not. any decision the post office wants to make to become more efficient, they have to say mother may i. in this administration you see whether it's the epa that wants to continue to regulate the energy industry, trying to do more in the car industry, trying to take over the health care industry. >> can i just interject? you see the problems between government has mother may i decisions over the economy. >> it has nothing to do with the obama administration. the problems of the post office go back way before president obama existed. the reality is it's an inefficient organization that has to answer to the government to make decisions. the problem is people aren't using the post office. >> let me make a quick point. first of all it's not
. >>> and the first 30-year bond in years. the test of market sentiment ahead of the election. >>> and president obama uses his state of the union speech to urge congress to end the battle over the budget and work together to boost the u.s. economy and help the middle class. >> together we have cleared away the rubble of crisis. we can say with renewed confidence that the state of our union is strong. >>> there we go. >> who doesn't love to kick off a wednesday morning with the iea monthly oil report? >> they have lowered their oil demand growth expectations on weaker gdp forecasts. demand growth, 840,000 barrels a day in 2013. they've cut the forecast for opec crude to 29.8 million barrels a day. they say oil supply will hit a 12-month low in january. >> can we show crude and look at the reaction there? we'll take a look in one second. what else are they saying in this report? >> they say the non-opec supply will be rising. opec supply will be falling. non-opec supply is rising, one million barrels a day this year. then they talk about iran oil production hovering below the lowest in 30 years. new sa
breaking news stories this hour. president obama to speak in 15 minutes time. he will ask congress to come up with short-term packages to put off automotiatic spending cuts. hampton, we begin with you, budget office right now releasing its budget and economic outlook. give us details. >> reporter: the budget office, assumes no change in current laws, 2013 fiscal year budget deficit, $845 billion. cbo projects first time below $1 trillion since 2008, 5% of gdp, well below the peak of 2009. saying deficits decline as a percentage of gdp could dip as low as 2.4% in 2015. then they start to rise again in 2016. that 10-year-old cbo deficit projection increased overall to 4.6 trillion for the 2013 decade up from $20.2 trillion in it's previous. cbo sees real gdp growing 1.4% in 2013, the sub died growth limits businesses to hire more workers, cbo projecting unemployment rate to stay near 8% this year, also expecting unemployment rate to remain above 7.5% through 2014. debt and deficits will be larger, the cbo says, if current laws were modified and rising health care cost and increased federal h
tore president obama to derail this rally, now that we don't have to worry about the debt ceiling? >> not only debt ceiling but last tuesday he put up sequestration. we're not going to come to an agreement, a couple of solutions, kick that can down the road, time to think and talk about it. you saw it grind higher. not real volume. listen, you want them, pay up, we're happy to sell on the way up. >> we're going to talk about apple during the course of the session, course of the program. what is your takeaway from what tim cook said or didn't say today? >> listen, i think it's very interesting this whole conversation with what einhorn has now created with apple. this conversation ensuing. i like apple. i like apple where it is at the moment. >> did you like it all the way down. >> i said a long time ago when it started to crack at 700, you had to be careful. there's so many names we saw at the end of the year, get into it, push and push the way the market got ahead of itself. i fully expect the market will back off some. it needs to some. if you look it up, exactly what it did over
house, president obama will award citizens medals to the six adults killed in the newtown school shooting. the sedge educators who died dedicated their -- six educators who died dedicated their lives to the school and the community. a dozen other americans will be awarded the presidential citizens' medal at the white house today. >>> senate republicans successny blocked a vote on president obama's nominee for secretary of defense, chuck hagel. coming up at 7:15, what this means for the current defense secretary, leon panetta. yesterday was supposed to be his last day on the job. he says he's looking forward to coming back to monterey to take care of his ranch. >> yeah. >>> a lot of people are off. they don't have to work like you and i. it's presidents day. you are still watching the commute. >> that's right. i'm gonna be here on monday, too. >> i know you will be here, too. it will be the same even better on monday. some people don't have to go to work. some people will. we're looking at the commute on some of the major freeways. there are people out there, westbound on 80 as yo
. another developing story, yet another obama administration member warning about the fallout of the spending cuts. the clock keeps ticking down to the march 1 deadline. rich edson has the very latest. rich: good afternoon, shibani. highlighting the dangers of the automatic spending cuts. president obama is trying to get people in congress to try to agree to taxes on wealthier people. the law requires the administration to cut other positions. in a statement, the beef association rights, this place has a legal duty on the usda and administration to carry out this service. a duty in which we have recognized as essential in the past. while we understand the hardships placed on the agencies through sequestration, we are severely disappointed secretary millsap has chosen to take his path of threatening to halt and speculations. if not you have to give notice. you can only implement this caught in a really short window. there are not that many nonessential people that you could lay off for three months to avoid having to deal with the inspectors. rich: there is little movement in c
, steevkamp was cremated. >>> new this morning, president obama will be holding a white house event. in fact, just 45 minutes from right now, -- from right now to pressure congress about the spending cuts to kick in march 1st. the president will be urging congress to avoid the budget cuts known as the sequester for the debt reduction plan that would include spending cuts and higher tax revenues by closing loopholes. however, republicans are insisting on a plan with spending cuts only? back here at home, first it was palo alto police doing an online outreach. this morning, city firefighters are holding their own virtual ride along. janine de la vega is live with more on this high-tech event. >> reporter: we're here at fire station 1. this is the bussest fire station in -- busiest fire station in palo alto. one of the engines and ambulances will be taking us on a virtual ride along. if you follow palo alto on twitter, right now, they have 400 followers but they are hoping to gain more. to tell us more about why they want to do this, we're joined by the deputy fire chief here. why are you doing
. president obama calling on congress to reach some sort of a compromise. rich edson joins us with inside the beltway news. rich: they are not even talking about friday's deadlinecoming to the white house prodding republicans to sign off on tax increases because of a budget deal to avert the automatic spending cuts. the administration's just-released a report. the sample warns more than 7000 new york children will go without vaccinations, south: will lose 100 teachers assigned to children with disabilities and more than 57,000 people will lose health on their job searches in ohio. in washington, d.c., the same old spending fight. melissa: these impacts will not all be felt on day one. but rest assured the uncertainty is already having an effect. companies are preparing layoff notices, families are preparing to cut back on expenses, and the longer these cuts are in place, the bigger the impact will become. >> what sequestration is, it is a way to cut spending. i don't agree with that, but do not cut 2.5% of the budget over a year when it is twice the size it was a year ago, give me a break
the by that release and after the numbers we eke talk. >>> plus, president obama is asking congress to come up and new tax revenues in order to help the deficit. we'll have a conversation with represent dave camp coming up later in the program. stay with us. m charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-866-294-5411. more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media strategists. any questions? since we make radiator valves wouldn't it be better if we just let fedex help us to expand to
revolution, chairman of the case foundation and a member of president obama's jobs and competitiveness council. steve, good morning. >> good morning. >> a lot of inflection points in those speeches last night. but the notion of h 1 b, immigration, got a huge ovation. i wonder if you think this is real this time, and if so, what has changed? what makes this possible now? >> i think it is a moment there's now bipartisan support for a comprehensive immigration reform approach. i think people in talking about this for more than a decade, in the technology and entrepreneurial community have been talking about stapling green cards to diplomas. now it feels like republicans and democrats are coming together. so hopefully in the next few months we can build this coalition and pass immigration reform with a strong robust high-skilled immigration component. >> you're going to testify today before the senate judiciary committee on this topic. what is the net effect going to be on the effectiveness of startups in this country, on the labor market? because some are still making the market it's actu
president barack obama president obama at a facebook town hall two years ago is holding a big re-election fund-raiser for new jersey's very republican governor chris christie. find out what's behind this new lo lovefest in the democrat stronghold of silicon valley. that's coming up later on the "closing bell." tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-2550 their equity ratings show me how schwab tdd#: 1-800-345-2550 rates specific foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. tdd#: 1-800-345-2550 and
attack e-mails. in terms of what the obama administration can do, i think this gives us the opportunity and significant leverage with the chinese to increase the amount of transparency and debate on cyber and especially to increase the dialogue with the people at the center. >> woodruff: is it the sort of thing a company or individual can say sign up for security software and prevent? >> i wouldn't worry necessarily as an individual but as a company i would download the report, i would take it to my i.t. or security staff and say what are we doing about the issues in this report? and then at the higher level, at the strategic level, i would swhal is my government doing about this? what is the position that we're going to take with the chinese. the they now have a hold they can use in discussion with our allies, the chinese government that is not classified, it's unclassified. >> woodruff: very quickly, are we talking about legislation or somethat that can be done by executives? >> well, many support the legislation that chairman rogers who has put forth and for anyone who has privacy re
as they are released. and president obama says we have to grow the economy, create good jobs and everybody will find out why raising the minimum wage might have just the opposite effect. liz: just a few hour g hours age was hit by a cyber attack. earlier today an alarming report was released claiming china's military, the government military has been hacking into a lot of american companies and organizations, 140 plus. is there a hacking war being waged? the chairman of the company that spotted it and found it. a company that put out the report, the ceo of the company to help defend against these tests come back attacks. david: the possible move to take it private is dell. how do they do? ashley: on earnings per share, $0.40, the aspect was 39. on the revenue, 13.3 billion. a beat on the revenue as well. there are some other numbers as we delve into this, consumer revenue for the quarter was down 24%. they will not be giving a quarterly outlook because of the efforts to take the company private, but certainly a beat on the earnings and revenues. david: let's go to mark sebastian. dell is doing pret
of 77% of americans. >> we gave you a pound of flesh. >> the last budget was clinton was 1.8 from obama is three point* 6 trillion. do some math to figure out we have a spending problem. if we kept spending at rates of inflation plus population we would talk about surplus but we're not unless you have a gun to its head morrow. government will grow itself constantly. >> i think this is a win for democrats, the bush budget problem we inherited. neil: there we go. you left out fillmore. that will do it. see you tomorrow. good night. report." should the government be buying their property? and consumer reports is here with an exclusive review. 72 is the next 30, life expectancy is way up, but can we afford to live this long? "the willis report" is on the case. gerri: all that and more coming up later in the show, but first our top story, the government big bout. residents at one neighborhood hit hard by super storm sandy, staten island getting the best of deals thanks to taxpayers. homeowners whose homes were destroyed in sandy will get 100% of their damaged homes pre-storm market value. th
, a week from now, president obama is going to do his state of the union address, okay? typically the market doesn't respond well when the president talks. then we're going to start to get into some of the nitty-gritty, some of the spending issues. that would be a perfect opportunity for the market to give half of that back. so we've had a 6% rally. why not, you know, reclaim three of that percent over the course of the next few weeks. >> do you feel like we're acting a bit bullish with regard to the markets? i get the feeling it's more buying from kaufton as opposed to selling at this point, right? >> i think that's right. first of all, you've approached a couple of psychological hurdles on the dow and the s&p. we've seen what earnings season is going to give us. we're approaching the sequester cuts on march 1st and there is an increasing belief that they're going to be triggered. and so when you add on to that the fact that payroll taxes went up and the economy is going to be pretty sluggish here in the first half of the year. so i agree with phil that we're probably going to gi
gersh reports, president obama today asked congress to delay the cuts before the march 1 deadline. >> reporter: with $44 billion in spending cuts in defense and most other federal programs just weeks away, the president urged congress to pass a mix of spending cuts and tax increases to ease the immediate hit. >> there is no reason that the jobs of thousands of americans who work in national security or education or clean energy, not to mention the growth of the entire economy, should be put in jeopardy just because folks in washington couldn't come together to eliminate a few special interest tax loopholes. >> reporter: republicans dismissed the calls for more tax increases, and many argue the threat of the automatic spending cuts known as the sequester are the only way to force democrats to accept more spending cuts. but their leverage may be limited. >> i think we will have the sequester for a short period of time, probably until the first civilian employee of the government is furloughed, which might take about a week. and then, that pain may be enough to cause the people on ca
. nemo dumped up to three feet of snow in some areas. president obama has declared connecticut a disaster area, which makes it eligible for federal aid and at least 15 deaths are blamed on the storm. travel delays are easing. amtrak says it will have limited services in new york and boston. it's not the typical story you hear about in the u.s. in february as tornados tear through mississippi. >>> three companies biggest investors have joined southeastern management's objecting to the deal. but the latest edition, 14% now say they'll vote against the buyout. as far as dell's stock is concerned in frankfurt, it is still up 2%. >> eric schmidt is cashing in. the google claim has filed to sell 42% of his shares in the company. he will sell shares through a regular trading plan spread out over a year to reduce the market impact. analysts say it could hint at him playing a smaller role in the company going forward. schmidt handed the reigns to larry paige in 2011. google shares down about 0.8%. still up about 11 fers, 12% over the last six months. different story than major competitor apple. >>
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